Every accounting systems stores data in two ways: Master Data and Non-Master Data (or Transaction Data) as shown
Master Data: Master data is relatively permanent data that is not expected to change again and again. It may change, but not again and again.
created once and not expected to change again and again. Opening balance carried forward from previous year to next year is also a part of master data and not expected to change.
Non-Master Data: It is a data which is expected to change frequently, again and again and not a permanent data. Amounts recorded in each transaction shall be different every time and expected to change again and again.
In accounting language, a Voucher is a documentary evidence of a transaction. There may be different documentary evidences for different types of transactions.
S.NO. |
Voucher Type Name |
Module |
Use |
1 |
Contra |
Accounting |
For recording of four types of transactions as under.
|
|
|
|
account. |
2 |
Payment |
Accounting |
For recording of all types of payments. Whenever the money is going out of business by any mode (cash/bank) |
3 |
Receipt |
Accounting |
For recording of all types of receipts. Whenever money is being received into business from outside by any mode (cash/bank). |
4 |
Journal |
Accounting |
For recording of all non-cash/bank transactions. E.g. Depreciation, (provision, Write-off, Write- back, discount given/received, purchase/Sale of fixed assets on credit, etc. |
5 |
Sales |
Accounting |
For recording all types of trading sales by any mode (cash/bank/credit). |
6 |
Purchase |
Accounting |
For recording all types of trading purchase by any mode (cash/bank/credit). |
7 |
Credit Note |
Accounting |
For making changes/corrections in already recorded sales/purchase transactions. |
8 |
Debit Note |
Accounting |
For making changes/corrections in already recorded sales/purchase transactions. |
9 |
Purchase Order |
Inventory |
For recording of a purchase order raised on a vendor. |
10 |
Sales Order |
Inventory |
For recording of a sales order received from a customer. |
11 |
Stock Journal |
Inventory |
For recording of physical movement of stock from one location to another. |
12 |
Physical Stock |
Inventory |
For making corrections in stock after physical counting. |
13 |
Delivery Note |
Inventory |
For recording of physical delivery of goods sold to a customer. |
14 |
Receipt Note |
Inventory |
For recording of physical receipt of goods purchased from a vendor. |
15 |
Memorandum |
Accounting |
For recording of transaction which will be in the system but will not affect the trial balance. |
16 |
Attendance |
Payroll |
For recording of attendance of employees. |
17 |
Payroll |
Payroll |
For salary calculations. |
A Voucher Number or a Document Number is a unique identity of any voucher/ document. Let us understand some peculiarities about voucher numbering.
At the time of creation of any new ledger, it must be placed under a particular group. There are four basic groups in Accounting, i.e. Income, Expense, Asset, Liability. There may be any number of sub groups under these four basic groups. Grouping is important as this is way to tell software what is the nature of the ledger and where it is to be shown at the time of reporting.
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